Adani Green Ltd’s consolidated net profit for the April-June quarter jumped 50.9 per cent year-on-year (YoY) to Rs 323 crore. The Adani group’s firm profit in the same period a year ago stood at Rs 214 crore.
The company’s consolidated revenue from operations jumped 33 per cent to Rs 2,176 crore, from Rs 1,635 crore in the same quarter last year.
Adani Green’s revenue from power supply jumped 55 per cent to Rs 2,059 crore YoY, from Rs 1,328 crore. Adani Green’s EBITDA from power supply jumped 53 per cent to Rs 1,938 crore in Q1FY24, from Rs 1,265 crore in the same quarter a year ago.
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The firm’s operational capacity in the period under review jumped 43.3 per cent to 8,316 MW from 5,800 MW from last year.
Adani Green stated that the sale of energy increased 70 per cent YoY to 6,023 mn units in Q1 FY24 primarily backed by strong capacity addition. Meanwhile, the solar portfolio CUF improved by 40 bps YoY to 26.9 per cent in the June quarter with consistent high plant availability and improved solar irradiation.
Adani Green Energy CEO Amit Singh said, “We aim to grow our renewable power capacity to 45 GW by 2030 through Solar, Wind and Solar-Wind hybrid solutions as major contributors. To enable integration of renewables in the grid, round-the-clock solutions with long-term clean storage structures such as pumped hydro will be a critical part of our solution mix, contributing to a greener future and underscore our dedication to combating climate change challenges.”
At the time of writing, Adani Green’s shares were trading 0.05 per cent higher at Rs 1,092.25.